According to cointelegraph.com on November 05.2020, Binance’s chief executive CZ and Ethereum’s co-founder Vitalik Buterin are in agreement that a new blockchain-based voting system is required to improve democratic processes in the United States.
Because of the prolonged uncertainty over the result of the controversial 2020 U.S. presidential election, CZ tweeted that now is the right time for developers to build a blockchain based mobile voting app.
Binance’s CEO stated that such a voting system would reduce the time taken to confirm the outcome of an election, enhance voters’ privacy, and eliminate questions surrounding the validity of results.
CZ also urged the developers to begin working on such a system.
“The technical challenges with making a secure cryptographic voting system are significant (and often underestimated), but IMO this is directionally 100% correct.” Buterin shared as a post.
He clarified that a cryptographic approach doesn’t necessarily mean a blockchain approach, and also mentioned that it shouldn’t be hard to improve on the current system.
The CEO and founder of MyCrypto, Taylor Monahan said that with the number of security issues facing current blockchain and cryptocurrency networks, the community is not ready for blockchain technology.
Last month, Russia used a blockchain-based voting system built on Waves, recording nearly 300,000 votes.